Banking
Zenith Bank Earnings Drop 15%, Proposes N2.50k Dividend
By Dipo Olowookere
One of the top banks in Nigeria, Zenith Bank Plc, has released its annual financial report for the year ended December 31, 2018.
The Nigerian lender said in the year under review, its gross earnings declined by 15.4 percent to N630.3 billion from N745.2 billion recorded in the 2017 fiscal year.
However, the net interest income rose to N295.6 billion from N258 billion, while the net income on fees and commission dropped to N81.8 billion from N82.6 billion.
Also, the trading gains went down to N80.2 billion from N158 billion, while the other operating income closed at N17.9 billion in contrast to N22.4 a year earlier.
In the period under review, the personnel expenses rose to N68.6 billion from N64.5 billion, while the operating expenses dropped to N137.9 billion from N144.9 billion.
Zenith Bank said its profit before tax rose to N231.7 billion from N199.3 billion, while the profit after tax appreciated to N193.4 billion from N173.8 billion.
Business Post reports that the earnings per share (EPS) of the financial institution for the 2018 financial year was N6.15k against N5.53k in 2017.
In 12 months, Zenith Bank increased its total assets to N5.956 trillion in 2018 from N5.595 trillion in 2017, while the total liabilities increased to N5.140 trillion from N4.783 trillion.
Meanwhile, the board of Zenith Bank has proposed a final dividend of N2.50k per share which in addition to the 30 kobo per share paid as interim dividend, amounting to N2.80k per share compared with the interim dividend of 25 kobo per share and final of N2.45k per share paid in 2017 financial year.
However, the present dividend recommendation will be presented for ratification by the shareholders at the next Annual General Meeting (AGM) and if approved by the shareholders, the bank will be liable to pay additional corporate tax estimated atN22.3 billion representing the difference between the tax liability calculated at 30 percent of the dividend approved and the tax charge reported in the statement of profit or loss and other comprehensive income for the year ended December 31, 2018.
Banking
Applications Open for GTCO ‘Take on Squad’ Hackathon 3.0
By Dipo Olowookere
Tech enthusiasts interested in participating in the Take on Squad Hackathon, organised by Guaranty Trust Holding Company (GTCO) Plc, can now enter the contest via the official portal at https://squadco.com/hackathon.
The programme enters its third edition in 2026, and the theme for this year is Smart Systems: The Intelligent Economy, according to a statement issued by the organisers.
The hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors, including financial services, healthcare, commerce and digital inclusion.
Participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.
It is part of the organisation’s commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.
“Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve.
“Through Take on Squad Hackathon, we are deliberately investing in the ideas and talent that will define the future.
“Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact.
“This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress,” the Managing Director of HabariPay, Ms Eduofon Japhet, stated.
The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.
Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.
Banking
Easter: Ecobank Assures Customers Uninterrupted Banking Services
By Dipo Olowookere
Banking services will not be interrupted throughout the Easter public holidays, from Friday, April 3, to Monday, April 6, 2026, for any reason, Ecobank Nigeria has assured its customers.
In a message over the weekend, the member of Africa’s leading pan-African banking group, Ecobank Transnational Incorporated, said customers would continue to enjoy quality service delivery during the period.
It noted that its secure and robust digital platforms would remain fully operational to support financial activities during the festive period.
All digital channels, including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point agent locations nationwide, will remain accessible throughout the holiday, the financial institution further said, urging customers to conveniently conduct transactions at any time using this wide range of digital solutions.
Ecobank customers were encouraged to maximise the bank’s alternative channels for transfers, bill payments, airtime purchases, card services, and account management.
They were also advised to stay vigilant by shopping only on trusted websites; avoiding the sharing of PINs, passwords, and one-time passwords (OTPs); refraining from banking on public Wi-Fi networks; being cautious of urgent or emotionally charged messages; and regularly monitoring their account activity.
“Customers will continue to enjoy a full bouquet of services during the holiday, including local and international funds transfers, bill payments, airtime top-ups, merchant payments, balance enquiries, account statements, and cardless cash withdrawals via ATMs,” the Head of Products & Analytics, Consumer & Commercial Banking at Ecobank Nigeria, Mr Victor Yalokwu, stated.
“We understand that festive seasons come with increased financial activity, and our priority is to ensure our customers enjoy fast, reliable, and secure banking wherever they are.
“Our digital channels are designed to support uninterrupted transactions, and we have strengthened our systems to guarantee optimal performance throughout the Easter break,” he added.
Mr Yalokwu noted that, “Ecobank remains committed to providing innovative financial solutions and exceptional customer service. We wish all our customers and partners a peaceful and joyful Easter celebration.”
Banking
Polaris Bank to Limit Access to VULTe for Four Days
By Dipo Olowookere
Customers may have difficulty accessing the digital platform of Polaris Bank, known as VULTe, during the Easter holidays from Friday, April 3, to Monday, April 6, 2026.
This is because the financial institution is carrying out system maintenance on the platform in its effort to ensure users enjoy a better banking experience.
In a notice over the weekend, the lender said “access to VULTe may be limited,” but it provided an alternative, which is the PolarisXperience.
Polaris Bank, which expressed regret over “any inconvenience” this action may cause its customers, said the “scheduled system maintenance” would happen from 10 pm to 8 am daily, promising that normal service would return after the maintenance.
“In continuation of our commitment to delivering a seamless and improved banking experience, we will be conducting a scheduled system maintenance during the Easter holidays.
“During this period, access to VULTe may be limited. We have provided an alternative channel, PolarisXperience:
“Please go to our website to onboard or use it as an existing user. You can also use this link: (https://elogin.polarisbanklimited.com).
“We regret any inconvenience and appreciate your understanding. Normal service will resume after the maintenance,” parts of the notice seen by Business Post read.
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